Issue of Equity

RNS Number : 0526Q

Stellar Resources PLC

24 February 2016

 

24 February 2016

Stellar Resources plc

("Stellar Resources" or the "Company")

Issue of Equity

Stellar Resources (AIM: STG, ISDX: STG) announces that it has raised £770,000, gross of expenses, through the issue of 308 million new shares of 0.01 pence each in the Company ("Placing Shares") at a placing price of 0.25 pence per share with certain institutional and private investors ("the "Placing"). This Placing is to raise funds for general working capital purposes and to assist in seeking further investment opportunities.

Application is being made for the Placing Shares, which will, on issue, rank pari passu with the existing Ordinary Shares, to be admitted to trading on AIM and such admission is expected to occur on or around 1 March 2016. The Placing Shares will be admitted to trading on ISDX simultaneously with the admission to AIM.

Following Admission, the Company's enlarged issued share capital will comprise 1,070,549,166 ordinary shares. The Company holds 232 ordinary shares as treasury shares. Therefore, the total number of voting rights in the Company will be 1,070,548,934. This number may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

For further information, please contact:

Stellar Resources plc:
Alastair Clayton/Donald Strang	[phone]
Cairn Financial Advisers LLP:
Nominated Adviser:
James Caithie / Sandy Jamieson	[phone]
Optiva Securities Limited:
Broker:
Christian Dennis / Jeremy King	[phone]
Square1 Consulting:
Public Relations:
David Bick / Mark Longson	[phone]

 

END

 

 

IOEAKQDNPBKDABB